I havent flown it much yet.
My first impressions are:
Views are crap, dont think they are adjustable either.
Cockpit graphics remind me of CF2, can't easily read guages in cockpit
Graphics are satisfactory, nothing special IMHO, however the graphical damage representation is Good.
Damage can effect the FM if set to realistic, but i'm not quite sure if thats a good thing, rudder was all but toast, elevators present but could barely maintain level flight as if the elevators were gone.
CFS3 could not maintain my interest enough to try a campaign, maybe I will if the AH servers ever go down.